Tax Law Update

U.S. Court of Appeals for the Ninth Circuit approves defined value formula The Ninth Circuit upheld the Tax Court's decision approving a formula gift and sale in Estate of Anne Y. Petter v. Commissioner, F.3d (9th Cir. No. 10-71854, Aug. 4, 2011), affirming T.C. Memo. 2009-280 (Dec. 7, 2009). Anne Petter inherited stock in United Parcel Service of America, Inc. (UPS), worth more than $20 million when

David A. Handler, Alison E. Lothes | Oct 01, 2011

U.S. Court of Appeals for the Ninth Circuit approves defined value formula — The Ninth Circuit upheld the Tax Court's decision approving a formula gift and sale in Estate of Anne Y. Petter v. Commissioner, — F.3d — (9th Cir. No. 10-71854, Aug. 4, 2011), affirming T.C. Memo. 2009-280 (Dec. 7, 2009).

Anne Petter inherited stock in United Parcel Service of America, Inc. (UPS), worth more than $20 million when UPS went public in 1999. After consulting with an

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